Elpida to receive $50M investment from Kingston Tech

DRAM manufacturer Elpida Memory Inc. and Kingston Technology Corp., an independent manufacturer of memory products, have signed a business agreement. According to the terms of the agreement, Kingston will invest about $50 million in Elpida Memory in exchange for non-voting stock.

"Elpida's technology complements Kingston's strong memory product offering further enabling our capability to provide continuous volume commitments to all our global customers," said David Sun, co-founder and COO of Kingston Technology. "We intend to continue our strategic relationship with Elpida, both as a consumer of their products and also as a module assembly and test sub-contractor."